geriatric medicines market share, geriatric medicines market outlook, geriatric medicines market scope, geriatric medicines market segments, geriatric medicines market insights, geriatric medicines market analysis
What is the present valuation and projected CAGR of the geriatric medicines market?
The geriatric medicines market size has grown rapidly in recent years. It will grow from $1227.91 billion in 2024 to $1430.84 billion in 2025 at a compound annual growth rate (CAGR) of 16.5%. The growth in the historic period can be attributed to increasing prevalence of stroke, increasing prevalence of chronic diseases, rising prevalence of cardiovascular diseases, increasing government support, and increasing emphasis on personalized medicine.
The geriatric medicines market size is expected to see rapid growth in the next few years. It will grow to $2604.86 billion in 2029 at a compound annual growth rate (CAGR) of 16.2%. The growth in the forecast period can be attributed to the increasing prevalence of age-related health conditions, rising geriatric populations, rising healthcare expenditures, the rise in geriatric medicine, and rising incidences of hypertension. Major trends in the forecast period include the use of digital pills and wearable health devices, development of tools and strategies to manage multiple medications safely, advancements in stem cell and gene therapy, expanded use of telehealth platforms, and advancements in early diagnosis and prevention of age-related diseases.
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What key drivers have fueled the geriatric medicines market’s development over the years?
The increasing prevalence of age-related health conditions is expected to propel the growth of the geriatric medicines market going forward. Age-related health conditions are health problems that increase in frequency or intensity with advancing age as a result of the aging process. Longer life expectancies, advancements in healthcare, and an aging population mainly drive the increasing prevalence of age-related health conditions. Geriatric medicines help manage age-related health conditions by providing specialized treatments for older adults, improving their quality of life and healthcare outcomes. For instance, in March 2023, according to a report published by the Office for Health Improvement and Disparities (OHID), a UK-based government office, in 2022, 17.6% of people aged 16 and older reported having a long-term musculoskeletal (MSK) condition, such as arthritis or ongoing issues with their back or joints. This marks an increase from the 17.0% prevalence in 2021. Therefore, the increasing prevalence of age-related health conditions drives the growth of the geriatric medicines market.
What is the segmentation for the geriatric medicines market?
The geriatric medicines market covered in this report is segmented –
1) By Therapeutics: Analgesics, Antihypertensive, Statins, Proton Pump Inhibitors, Anticoagulant, Antipsychotic, Other Therapeutics
2) By Condition: Cardiovascular, Arthritis, Neurological, Cancer, Osteoporosis, Respiratory, Other Conditions
3) By Route Of Administration: Oral, Parenteral, Other Routes Of Administration
4) By Distribution Channel: Hospital Pharmacy, Retail Pharmacy, Online Pharmacy
Subsegments:
1) By Analgesics: Non-Opioid Analgesics (Acetaminophen, NSAIDs), Opioid Analgesics (Morphine, Oxycodone), Topical Analgesics (Lidocaine Patches)
2) By Antihypertensive: Angiotensin-Converting Enzyme (ACE) Inhibitors, Angiotensin II Receptor Blockers (ARBs), Beta-Blockers, Calcium Channel Blockers, Diuretics, Alpha-Blockers
3) By Statins: Atorvastatin, Simvastatin, Rosuvastatin, Pravastatin, Lovastatin
4) By Proton Pump Inhibitors: Omeprazole, Esomeprazole, Lansoprazole, Pantoprazole, Rabeprazole
5) By Anticoagulant: Warfarin, Direct Oral Anticoagulants (DOACs): Dabigatran, Rivaroxaban, Apixaban, Heparin
6) By Antipsychotic: Atypical Antipsychotics, Typical Antipsychotics
7) By Other Therapeutics: Antidepressants (SSRIs, SNRIs), Antidiabetic Medications (Insulin, Metformin), Anticonvulsants, Anti-Inflammatory Drugs (Corticosteroids), Cognitive Enhancers (Donepezil, Memantine)
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Who are the most influential companies in the geriatric medicines market?
Major companies operating in the geriatric medicines market are Pfizer Inc., Merck & Co. Inc., AbbVie Inc., Sanofi S.A., Bristol-Myers Squibb Company, Novartis AG, F. Hoffmann-La Roche AG, GlaxoSmithKline plc, Eli Lilly and Company, Viatris Inc., Teva Pharmaceutical Industries Ltd., Boehringer Ingelheim GmbH, Regeneron Pharmaceuticals Inc., Macleods Pharmaceuticals Ltd., Apotex Inc., Intas Pharmaceuticals Limited, Dr. Reddy’s Laboratories, Lupin Limited, Biocon Limited, Torrent Pharmaceuticals Ltd., Endo Pharmaceuticals Inc.
What are the top industry trends projected to impact the geriatric medicines market?
Major companies operating in the geriatric medicines market are focusing on developing groundbreaking diabetes therapy to address the growing demand for effective solutions in the aging population. Diabetes therapy involves innovative treatments that enhance diabetes management or offer potential cures that surpass traditional approaches, improving efficacy, safety, and patient outcomes. For instance, in August 2023, Akums Drugs & Pharmaceuticals Ltd., an India-based contract manufacturing pharmaceutical company, announced the launch of a novel combination therapy featuring Vildagliptin SR and Metformin SR. This advanced formulation is specifically tailored to address the management of Type 2 diabetes in elderly patients. It is designed to deliver effective glycemic control, and the therapy minimizes key concerns such as hypoglycemia and weight gain, which are particularly critical for this demographic. By synergizing the mechanisms of both drugs, the combination enhances insulin secretion and effectively reduces blood sugar levels, ensuring safety and efficacy. The product has received regulatory approval from the Drug Controller General of India (DCGI).
What are the major regional insights for the geriatric medicines market, and which region holds the top position?
North America was the largest region in the geriatric medicines market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the geriatric medicines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Geriatric Medicines Market Report 2025 Offer?
The geriatric medicines market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Geriatric medicines are medications prescribed for individuals aged 65 and older, addressing the unique health needs of the elderly. They are designed to support cognitive function, mobility, and immune health while considering the physiological changes that affect drug metabolism in older adults. These medications manage chronic conditions and age-related symptoms, enhancing overall quality of life.
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